Comparison of Probit vs Swyftx [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Probit vs Swyftx comparison!

Your expert: Alejandro Borja

probit

Probit

Your expert: Xavier Tarrasó

Swyftx

Swyftx

Main points

Fees

0,20%

Earns

No

Customer service

3/5
≈ 0,06%

Fees

No

Earns

4/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold

Yes
Yes

Beginners

Yes

Trading

No

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for token holders.
4.0 – Competitive fees with strong local support in Australia and New Zealand.

Level

0,20%
≈ 0,06%

Brief explanation

ProBit Global’s fee structure is designed to be competitive and accessible for traders of all levels. The platform employs a flat trading fee model of 0.20%, which is slightly lower than the global industry average. This uniform fee applies to both makers and takers, simplifying the trading process and making it transparent for users. Additionally, significant discounts are available for those who choose to pay their trading fees with the PROB token, ProBit Global’s native cryptocurrency. This feature not only encourages the use of PROB within the platform but also offers an economical advantage to frequent traders, enhancing their overall trading experience.
Swyftx charges a competitive trading commission which is built into the spreads, typically around 0.6%, making it quite transparent and straightforward. The platform does not charge any deposit or withdrawal fees for AUD transactions, which is a notable advantage for local users. Additionally, Swyftx keeps its fee structure uncomplicated with no hidden charges, allowing traders to easily understand what they will pay when executing trades on the platform.

Probit

Swyftx

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Product selection

Native token

No
No

Earns

No
No

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

ProBit Global Services Limited
Swyftx Pty Ltd.

Regulation

Not regulated
Regulated in Australia

Year founded

2018
2017

Founder

Hyunsu Do
Alex Harper

Payment methods

Transfers

No
Yes

Mastercard

Yes
Yes

Wire transfer

No
Yes

Card

Yes
Yes

Comparative table

Probit FEATURES Swyftx
ProBit supports low minimum trade amounts, making it accessible for beginners to start trading without requiring significant initial investments.
Minimum Trade
Swyftx allows for relatively low minimum trades, making it accessible for beginners who wish to start small.
ProBit Global offers competitive trading fees that are below the industry average, enhanced by discounts for using the PROB token.
Trading and Transaction Fees
The platform has competitive fees, lower than many of its local competitors, though slightly higher than global exchanges.
With over 500 cryptocurrencies available, ProBit Global provides one of the most extensive selections, catering to traders looking for variety and niche coins.
Number of Cryptocurrencies
Swyftx offers a wide selection of cryptocurrencies, catering to traders interested in both popular and less-known coins.
The platform supports over 300 trading pairs, offering significant flexibility for trading strategies across a broad range of cryptocurrencies.
Crypto-to-Crypto Trading Pairs
Offers a robust range of trading pairs, enabling flexible trading strategies across various digital assets.
ProBit is generally transparent about its fees and operations, though some users may seek more detailed information on certain operational aspects.
Website Transparency
The Swyftx website provides clear, detailed information on fees, policies, and trading options, aiding users in making informed decisions.
ProBit does not offer an exchange card for in-store purchases.
Credit/Debit Card
The Swyftx crypto debit card seamlessly converts cryptocurrencies to fiat for easy everyday transactions, with added benefits such as reward points on purchases.
ProBit provides secure storage options, including cold storage, although it doesn’t offer as diverse an array of wallet services as some larger platforms.
Storage Offering
Provides secure storage options, though it’s always recommended users keep large amounts in personal wallets for added security.
The platform offers staking options and various rewards through the use of its PROB token, giving users additional ways to earn from their holdings.
Staking and Rewards
Offers staking options but with fewer choices and rewards compared to leading competitors.
ProBit offers a functional mobile app and a user-friendly desktop platform, though some users might find the features somewhat basic compared to more advanced trading platforms.
Mobile App and Desktop
Both mobile and desktop platforms are highly rated for their user-friendly interfaces and functionality.
Customer service is available and generally responsive, but feedback indicates that there is room for improvement in terms of speed and the breadth of support options.
Customer Service
Generally responsive and helpful customer service, but peak times can see slower responses.
Deposits and withdrawals are supported efficiently on ProBit, but the options for fiat transactions are limited, and the structure for withdrawal fees can be complex.
Deposit and Withdraw
Deposits and withdrawals are generally efficient, though some users report delays during high-demand periods.

Key features

Analysis tools

Basic charting tools
Advanced charting tools, technical analysis

Mobile APP

No
No

Security

High 4,9/5
High 4,6/5

Additional features

Margin trading, staking, Probit Earn, Probit token (PROB) rewards
Staking, fiat on/off ramps, Swyftx Earn, demo mode

Anonymity

Yes
No

Key points

Available cryptocurrencies

500+
300+

User-friendliness

Probit features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.
Swyftx features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.

Value for money

Delivers reasonable value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.
Delivers good value for money with competitive fees and strong local support in Australia, making it a good choice for regional users.

Countries of operation

South Korea, United States, Canada, United Kingdom, Australia
Australia, New Zealand

Best for

Best for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.
Best for Australian and New Zealand investors looking for a user-friendly platform with competitive fees and strong local support.

Base currencies available

KRW, USD, BTC
AUD, BTC

Account

Trading

ProBit offers a wide range of cryptocurrencies and competitive fees. It provides advanced trading tools but has lower liquidity compared to larger exchanges.
Swyftx is a popular exchange in Australia, offering a user-friendly platform and easy fiat integration. It supports a wide range of cryptocurrencies and competitive fees but lacks some advanced trading features.

Deposit and withdrawal

ProBit offers multiple deposit and withdrawal methods, including bank transfers and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.
Swyftx is popular in Australia, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

Account opening process

ProBit provides an easy and fast account opening process. Users need to provide personal details and verify their identity. The process is fully digital and usually completed within a day.
Swyftx provides an easy and fast account opening process. Users need to provide personal details and verify their identity. The process is fully digital and usually completed within a day.

KYC required?

Yes
Yes

Customer Service

ProBit provides support through email and live chat. The support team is responsive and available 24/7, making it convenient for users needing immediate help.
Swyftx provides support through email and live chat. The support team is responsive and available 24/7, making it reliable for users in Australia and beyond.

Security

ProBit offers comprehensive security measures, including 2FA and cold storage. However, it lacks regulation from major financial authorities, which might be a concern for some investors.
Swyftx ensures security through 2FA, encryption, and cold storage. It is regulated by Australian authorities, providing a secure environment for investors.

Which of these exchanges is for you?

As one of the experts here at our website, I highly recommend ProBit Global for its impressive array of over 500 cryptocurrencies and more than 300 trading pairs. This diversity makes it an excellent platform for both new and seasoned traders looking to explore various investment opportunities. Moreover, its competitive trading fees, especially when using the PROB token, make it an economically smart choice. Whether you’re beginning your crypto journey or seeking new trading strategies, ProBit Global’s user-friendly and efficient platform stands out as a strong candidate in the crowded field of crypto exchanges.
As a cryptocurrency investment analyst, I find Swyftx to be an excellent choice for those new to the crypto market or looking for a user-friendly trading experience. The platform offers a wide range of cryptocurrencies and has a straightforward, easy-to-navigate interface that simplifies trading. While it could improve its offerings for more seasoned traders by adding advanced trading tools, for most users, Swyftx provides a reliable and secure environment to start their cryptocurrency investment journey. If you’re based in Australia, I highly recommend considering Swyftx as your go-to exchange.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

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